JV Inkai main process plant startup ceremony

The ceremony, recognizing the plant’s production startup, was attended by Company managers and founders, personnel from Canada’s Embassy in the Republic of Kazakhstan, representatives of the RoK Ministry of Industry and New Technologies and local dignitaries.
The Company’s main process plant is located near Taikonur Village of Suzak Region, South Kazakhstan Oblast. The minesite is the largest hydrogenous type deposit located in Shu-Sarysu uranium ore province. JV Inkai has licenses for uranium mining on the areas referred to as Block 1 and Block 2 and an exploration license for the area referred to as Block 3. The results of the test operations proved the effectiveness of the ISR mining method and the economic feasibility of the project.
The Company’s plans to operate the main process plant were accepted by the State Committee in February of this year, allowing JV Inkai to start full-scale production. The commercial production provides for startup of the new main process plant, the satellite plants, the well field, the camp and various support facilities. The plant’s design capacity will be 2,000 tons of U or 5.2 million pounds of U per year.
Joint Venture Inkai, established in March 1996, is owned 60% by Canadian company Cameco Corporation and 40% by National Atomic Company Kazatomprom JSC.
In anticipation of expanding production in the near future, the number of employees will be increased from 472 to 546.
Cameco Corporation is one of the world's largest uranium producers, a significant supplier of conversion services and one of two Candu fuel manufacturers in Canada. Our competitive position is based on our controlling ownership of the world's largest high-grade reserves and low-cost operations. Our uranium products are used to generate clean electricity in nuclear power plants around the world, including Ontario where we are a limited partner in North America's largest nuclear electricity generating facility. We also explore for uranium in North America and Australia, Asia and Australia. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan. Cameco CEO Gerald W. Grandey is a member of Foreign Investors Council which is chaired by the President of the Republic of Kazakhstan.
Kazatomprom is the national operator of the Republic of Kazakhstan for export of uranium and its compounds, rare metals, nuclear fuel for nuclear power plants, special purpose equipment, technologies and double-use materials. The main activities of the company are: geological exploration, uranium production, manufacture of nuclear fuel cycle products, reactor construction, nuclear power plants, production of construction materials, the electric energy sector, scientific support of production and social welfare and training of personnel. Today Kazatomprom has more than 26,000 employees and is amongst the leading uranium production companies in the world.